The spot daily trading volume of the Indian exchange CoinDCX jumped directly from over 5 million to $13 million last week.
According to a report from Moneycontrol, in recent days as Bitcoin rebounded, spot volumes across several of India’s major exchanges have generally risen by more than 20%.
CoinSwitch, WazirX, Mudrex, and Giottus are all recovering as well.
However, industry insiders locally are more cautious.
Both policy expectations and short-covering are contributing to this upswing.
They are more concerned about whether spot funds can continue to flow in.
The Indian market is always sensitive to policy news.
According to a report from Moneycontrol, in recent days as Bitcoin rebounded, spot volumes across several of India’s major exchanges have generally risen by more than 20%.
CoinSwitch, WazirX, Mudrex, and Giottus are all recovering as well.
However, industry insiders locally are more cautious.
Both policy expectations and short-covering are contributing to this upswing.
They are more concerned about whether spot funds can continue to flow in.
The Indian market is always sensitive to policy news.